Published on 08/28/2023 at 13:38
As many as 65% of respondents aged 18-34 perceive artificial intelligence positively for managing their personal finances. (Photo: The Canadian Press)
Younger Canadians are more likely to use artificial intelligence to manage their finances than older people, according to a survey by the Royal Bank of Canada.
As many as 65% of respondents aged 18-34 perceive artificial intelligence positively for managing their personal finances.
Conducted online by Ipsos, the survey shows Canadians are turning to artificial intelligence to automate their savings, perform budget calculations, provide insight into upcoming cash inflows and outflows, and provide quick financial insights.
People aged 35+ seem to be more cautious when it comes to using artificial intelligence for personal finance management.
About 38% of people aged 35-44 were interested in AI for their finances, while only 11% of people aged 55 and over trusted the capabilities of AI.
The poll, conducted April 12-14 of 1,501 Canadians, shows that while 75% of respondents were suspicious of artificial intelligence, many may be using the technology without realizing it.
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